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Eddie Stobart Sold To Property Firm

The UK's best known road haulage firm, Eddie Stobart, has been sold for £138m. The company, famous for its 900-strong fleet of green and red trucks, is being bought by former property group Westbury.

Westbury is planning to transform itself

into a combined transport and logistics business.

The merged business will be renamed Stobart Group, with Eddie Stobart's current owners, Andrew Tinkler and William Stobart, staying with the enlarged group.

Eddie Stobart was founded in 1970 and now operates from 27 sites across the UK, as well as one in Belgium.

Its main bases are in Carlisle, Warrington and Daventry.

Mr Tinkler and Mr Stobart - the brother of original founder Eddie - will hold 28.5% of the new company following the merger.

The pair worked for railway infrastructure firm WA Developments before buying the struggling haulage firm in 2004.

The new business will combine the road transport, warehouse and rail freight operations of Eddie Stobart with Westbury's growing ports and logistics business.

The aim is to create a company able to give customers access to road, rail and sea networks.

Westbury has also announced the acquisition of Widnes-based freight handling firm O'Connor for £23m alongside the Eddie Stobart merger.

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